Zacks: Brokerages Anticipate SkyWest, Inc. (SKYW) Will Post Earnings of $0.85 Per Share
Equities research analysts expect SkyWest, Inc. (NASDAQ:SKYW) to post earnings per share of $0.85 for the current quarter, according to Zacks. Three analysts have issued estimates for SkyWest’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.80. SkyWest posted earnings of $0.77 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 10.4%. The firm is expected to issue its next quarterly earnings results on Thursday, July 27th.
According to Zacks, analysts expect that SkyWest will report full year earnings of $3.18 per share for the current year, with EPS estimates ranging from $3.10 to $3.30. For the next year, analysts expect that the business will post earnings of $3.53 per share, with EPS estimates ranging from $3.20 to $3.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover SkyWest.
SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, April 27th. The transportation company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.13. SkyWest had a positive return on equity of 10.12% and a negative net margin of 4.93%. The business had revenue of $765.42 million during the quarter, compared to analysts’ expectations of $745.95 million. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on the company. TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research note on Monday, May 22nd. Deutsche Bank AG lifted their target price on SkyWest from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, April 28th. Zacks Investment Research lowered SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, March 15th. Raymond James Financial, Inc. upgraded SkyWest from an “outperform” rating to a “strong-buy” rating in a report on Thursday, April 13th. Finally, ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.80.
Shares of SkyWest (NASDAQ:SKYW) traded down 1.16% during midday trading on Tuesday, hitting $36.17. The company’s stock had a trading volume of 207,815 shares. The firm’s market cap is $1.87 billion. The firm has a 50-day moving average of $35.71 and a 200 day moving average of $35.64. SkyWest has a 12-month low of $25.04 and a 12-month high of $39.85.
The company also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 30th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, June 28th. SkyWest’s dividend payout ratio (DPR) is currently -10.63%.
Several hedge funds have recently bought and sold shares of the company. Fox Run Management L.L.C. purchased a new stake in SkyWest during the second quarter worth approximately $246,000. Piedmont Investment Advisors LLC boosted its position in shares of SkyWest by 148.3% in the first quarter. Piedmont Investment Advisors LLC now owns 43,058 shares of the transportation company’s stock valued at $1,475,000 after buying an additional 25,714 shares during the period. Paloma Partners Management Co bought a new position in shares of SkyWest during the first quarter valued at about $1,180,000. State Street Corp boosted its position in shares of SkyWest by 7.2% in the first quarter. State Street Corp now owns 1,375,036 shares of the transportation company’s stock valued at $47,093,000 after buying an additional 92,598 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of SkyWest by 14.6% in the first quarter. Bank of America Corp DE now owns 199,999 shares of the transportation company’s stock valued at $6,851,000 after buying an additional 25,549 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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